🪄 Product transforms "traditional" companies

When tech’s loss is “traditional” companies’ gain

Today, we launch a groundbreaking report with our friends at Pendo exploring how so-called "traditional" companies are racing to scoop up product management talent. 

Industry-wide, tech companies have responded to growing macroeconomic pressure by parting ways with large amounts of talent. In the first half of 2023 alone, nearly 150,000 U.S. tech workers were laid off.

At the same time, nothing happens in a vacuum. Right when tech companies are tamping down their workforces, businesses long regarded as “traditional” are racing to scoop up the talent. A new global study from Pendo and Product Collective finds that product management teams—a function typically prevalent in technology companies—have grown in size by 9% in traditional enterprises over the past two years. What’s more, they’re expected to continue growing at the same rate.

What explains this rush to hire product management talent?

• Product teams strengthen the business and its bottom line.
• Product teams are increasingly important to the organization as a whole.
• Product has evolved from an engineering-adjacent role to one that is strategically crucial.

Ultimately, the report is required reading for both product managers in so-called "traditional" companies and modern tech companies eager to be disruptive, efficient, and ultimately more successful. Read it for free today!